Bank deposit received by nominee but refusing to share with other legal heirs
10 months ago
On death of unmarried aunty nominee has received the proceeds of bank deposits. Now he is refusing to share it with other legal heirs. 5 years passed .can I claim it now. Any law of limitations is applicable.
A.Dear Sir,
The nominee who received the amount is in the capacity of Trustee to distribute the same among the legal heirs unless the nominee is having any Gift Deed or any other document to enjoy such amount by herself/himself. File a civil suit to get such amount from the nominee and also file interim application under Order 38 Rule 5 of CPC to attach her/his properties before judgment as a security for the said amount.
The nominee who received the amount is in the capacity of Trustee to distribute the same among the legal heirs unless the nominee is having any Gift Deed or any other document to enjoy such amount by herself/himself. File a civil suit to get such amount from the nominee and also file interim application under Order 38 Rule 5 of CPC to attach her/his properties before judgment as a security for the said amount.
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A.Dear Client,
A nominee is legally bound to transfer the assets of the deceased owner to the legal heirs. There are many cases where legal heirs have approached courts to direct the nominee to hand over the assets to them. Courts have often ruled that the nominee is a trustee and a custodian and it’s the legal heirs who should inherit the assets of the deceased owner. The limitation period for filing a money suit starts from the date of cause of action, i.e, within 3 years from the death of the owner. As it passes more than 5 years from the date of the cause of action, admission of money suit is barred by limitation. However, a petition praying for condonation of delay may be filed and based on merit of the petition, suit may be allowed. Reach out to an Advocate for guidance and steps.
A nominee is legally bound to transfer the assets of the deceased owner to the legal heirs. There are many cases where legal heirs have approached courts to direct the nominee to hand over the assets to them. Courts have often ruled that the nominee is a trustee and a custodian and it’s the legal heirs who should inherit the assets of the deceased owner. The limitation period for filing a money suit starts from the date of cause of action, i.e, within 3 years from the death of the owner. As it passes more than 5 years from the date of the cause of action, admission of money suit is barred by limitation. However, a petition praying for condonation of delay may be filed and based on merit of the petition, suit may be allowed. Reach out to an Advocate for guidance and steps.
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A.Dear client,
Limitation period varies on types of bank deposits as well, so it advisable to consult a lawyer to proceed with this case
Limitation period varies on types of bank deposits as well, so it advisable to consult a lawyer to proceed with this case
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